Tuesday, June 10, 2008

Congressional Democrats Want to Take Ownership of Big Oil

With record profits among oil companies, Democrats are asking why your average citizen should be able to invest in Big Oil and see a 10 or 15% return. It's not like they can't invest in other companies like Bear Stearns, WorldCom/MCI, Tyco, Arthur Anderson, Adelphia, Enron, Global Crossing, TWA. There are good invests always waiting for an American's dollar.

Congress is full of people who know how to appropriate trillions of dollars every year. Most congressional members see investing in Big Oil as a conflict of interest, and most Dems are miffed that they can't enjoy the benefits of investing in Big Oil without the consequences during the next election cycle.

Never fear, the always adept Democratic Congressmen have a way around that hurdle. Their proposal? To turn ownership of Big Oil over to Congress. "Well, not total ownership, just ownership of the profits" ... "that way we can be sure that money is put to good use."

Right.

While the economy feels the strain of high priced oil, and corporations are seeing record losses, we can rest assured our Democratic Congressmen are staying up at night trying to find a way to make sure that some of those record profits Big Oil is making also make their way into a Congressman's pocket.

What a country!   - CE

1 comment:

TS said...

Loved the line "Well, not total ownership, just ownership of the profits" - that is government in a nutshell: stealing profits without being itself productive or accountable.